Thought I woukd unfilter FormerFD or TheDogFarther as he currently calls himself as the bb was full of green boxes and I just wanted to see if he'd changed, he hasn't.
Just in reply to his post this morning.
When uog released the qoute in a recent rns it did seem that 400k was a great amount to produce in just over a year, at the time I think it worked out at around 372 days, and maybe that was the idea behind the qoute to make it look wow.
But in reality if anyone does a bit of working out of actual production over that period fron Asd-2 they might not like it so much.
Net to united would have been 88,000 bbls or an average of around 237 bopd so considering asd-2 came onstream at 462 bopd so it looks like if decline in production was gradual, no sudden drop offs then current production could be around 150 bopd or less.
This highlights why unresearched posters should be ignored but just as importantly it highlights how production can decline over a year and the need to continually drill new well after new well is so important to united.
Also why the sale of Maria being kicked further down the road might have an affect on drlling new wells, imo.
Anyway suppose I better put the dog back in his kennel so I don't see his reply, which I'm sure will be full of praise for my research.
Dyor.
The problem now is whether they can fund any new wells in 2023, they've only committed to two and the second ASD-3 must be close reaching td, probably in the coming days and if successful might prop up production for a while but it's obvious, to some, that uog need to drill new wells continually to stem the decline in production.
Will they go back to bp, it's been hinted at in previous rns.
The proceeds from the sale of Maria was probably, imo, going to be used for this purpose but as this has been kicked further down the road they might have to look elsewhere.
Just my opinion of course so please dyor and don't take anything on here as investment advice.
Ah green box wonder if the TDF has some interesting theory to discuss or just the usual insult.
GH, someone maybe repost this but He never comes up with a plausible answer to revenue and how without the revenue from divestments what would have paid for egypt last year.
Loads didn't say there wasn't any revenue from egypt just that I don't believe it is enough on it's own. It does pay back the bp loan but remember they had to renegotiate that and extend it to end of 2023 to reduce monthly payments that in itself should tell you something.
What M&A are you referring to?
I
Everyone one has the filter option, I use it for TheDogFarther.
I've proven Gh to be demonstrably wrong in the past and this is probably why he doesn't interact and put up a counter argument against my opinions and can only insult me instead.
Important time for uog and shouldn't be taken lightly and it's not rubbish imo.
Oily as far as I'm aware uog have only committed to 2 wells in 2023 so far and nothing else has been finalised yet.
Loads,
Imo revenue from egypt is not enough to look after itself or they would still have most of the $4.8m they received from divestments last year.
The Maria transaction already had an extension of 20 business days built into the agreement with Quattro.
This extension ends today.
Quattro have still not confirmed that they have completed raising the required funds and Jesmond haven't released any news thru Tmx either.
Tmx opens at 2pm our time so it will be interesting to see what happens if they don't release any news.
Just my opinion but any commitment to more drlling in 2023 could hinge on receiving the funds from the sale of Maria.
Vote against these 'special' resolutions.
Going to use shareholders money to purchase their own shares so they might
'satisfy obligations under its employee share scheme'
Don't think it needs spelling out why they want these resolution passed.
But I think it's ludicrous that a company the size of uog that needs every penny to keep drilling to replenish falling production to keep itself going would even contemplate using shareholders money in this way unless its beneficial to ....
But no doubt it will.
Notice a lot on green boxes on the bb of late but no Greg, hhmmm.
Still no word on Quattro raising funds for the purchase of Maria and only 3 business days left.
Asd 3 news could land end of next week.
Just reading todays posts and and as I have the dogfarther on filter I presume, but might be wrong, that he may have mention me but may be totally wrong.
Thanks BlaimThrower but going by the latest green boxes and your replies it seems maybe you have become his latest target, stick him in a green box.
But anyway I just wanted to reply to cinch's post at 10:57 this morning.
The rns/ news on 17th Jan from Jesmond stated
"The longstop date for completion of the License Acquisition is April 16, 2023 , subject to certain circumstances where completion can be extended for an additional 20 business days."
So going by that it seems that an extension to the agreement was already in place and hence yesterday's rns and why it has been extended by 20 'business ' days.
Now we can all speculate why they needed to extend, but it seems like the fact that there has been no news on Quattro raising the required funds as yet seems to be the most likely reason.
Remember the first deal, as I said before, fell thru because as uog stated Quattro failed to raise money that time and uog pulled out.
Also stress that imo uog really could do with this injection of cash, some will say that they have plenty but I don't think they have and if I not mistaken in april 2022 they received maybe $2.3m from the sale of the Italian assets and they were needed that's for sure.
Duster I haven't posted 6 days so I you think that's daily then it explains a lot.
Like I said do some research and maybe you wouldn't be so ignorant and insulting to someone posting facts not fiction that some promote Daily without any comment from someone who is not a UOG ramper.
In fact just use the filter option I have for formerfd/ Thedogfarther.